The total cost of the five stimulus packages announced by the emirate’s government since the start of the pandemic amounted to Dhs7.1bn, or 1.6 per cent of Dubai’s GDP
The EDB Business Banking app is free to open and has no minimum balance criteria
The new platform is available for both conventional and Shariah-compliant banking customers
The plan involves Algosaibi contributing 90 per cent of its assets to paying off debts, with the rest restructured in order to carry on operating
The $1.2bn IPO by ACWA Power International had initial demand amounting to several billion dollars
The guidance came into effect on Monday, September 13, with licensed financial institutions being given a month to demonstrate compliance
Chamber members’ exports and re-exports to the GCC countries during the first eight months of the year increased 16.4 per cent year-on-year to Dhs79.6bn
Khalid Farooq and Farhan Ali are at the helm of Resilience which provides a range of finance and IT services to several public and private sector businesses
Fund III raised capital commitments from leading pension plans, endowments, insurance plans, government institutions, family offices and private equity firms
While financial crimes may be complex and difficult to track, the Effiya Compliance suite ensures that risk assessment is conducted seamlessly, asserts Abhishek Gupta, managing director at Effiya Technologies
It follows the establishment of a task force led by the Abu Dhabi Department of Economic Development which coordinated its efforts with over 20 government entities
Its total revenue grew 3.4 per cent to Dhs2.644bn compared to Dhs2.557bn in H1 2020
Business setup and licence renewal fees have been reduced to Dhs1,000
Musk said Bitcoin mining is “shifting towards renewable energy” and his company will likely resume accepting it as payment for electric cars
Narratives that had propelled Bitcoin to a mid-April record of almost $65,000 are now being questioned
EGA is the Middle East’s biggest aluminium producer and is equally owned by Mubadala and Investment Corporation of Dubai
The fund has vowed to invest more in Asia and the US as it pursues growth and diversification after years of substantial investment in Europe
Abraaj, which was headed by financier Arif Naqvi, went into liquidation in 2018
Mubadala sold 975.9 million Yahsat shares, representing a 40 per cent stake, for Dhs2.75 each
The state energy giant is preparing to gauge interest in the assets from potential investors
The additional funding comes after an initial financing of Dhs300m was secured earlier this year from the bank
The Qatari lender last month had offered $128m to raise its holding to 50.1 per cent from 34.9 per cent
Shuaa has approached banks to set up three blank-check companies of around $200m each to pursue deals in the energy, finance, and technology sectors
The healthcare and education investment firm acquired 51 per cent of Shifa Al Munthaza Polyclinic
The IPO gives Yahsat a market value of about Dhs6.7bn
Mashreq will offer financing of up to Dhs10m to SME customers, of which 50 per cent will be guaranteed or co-lent by EDB
Dubai’s US-dollar denominated debt listings are now valued at $98.5bn
RAKBANK will offer SMEs and larger businesses based in free zone easy access to account opening services, loans, and credit facilities
Aldar will invest a fixed amount in one or more ESG projects if it does not reach agreed annual targets
Investments in companies that prioritise social and environmental objectives perform as well financially as traditional investments